When a job is completed, its cost (as shown by job cost sheet) is transferred from the work in …. Wyman Corporation uses a process costing system. This calculation must be separately reported on the return as set forth below. So, according to our information; $48,000/2000units=$24. Cost of goods sold is reported as an expense on the income statements and is the only time product costs are expensed. The cost of ending. Understanding cost of goods manufactured is important for accounting and business decision-making purposes. A corresponding entry is also made to record the sale. What you record during the accounting period are your normal accounting costs such as purchases of stock, wages, salaries, factory overheads, carriage inwards. Cost of Goods Sold. For example, On 24-10-2010, ABC Company manufactured 300 Cooker 12Liters. Apply over head cost for managerial accounting. The product is transferred from the finished goods inventory to cost of goods sold. The total cost of the product for Job MAC001 is $931 and the entry is: Journal Entries to Move Finished Goods into Cost of Goods Sold. Job-Order Costing Journal Entries. Closing the under/over applied manufacturing overhead to cost of goods sold/income statement. Post the effect to the general ledger T-accounts. Typically Excel spreadsheets are used to track the current period inventory costs. Cost of goods sold is calculated at the end of an accounting period in relation to the items sold during that period. (Please Clarify if this is the correct entry)? 7) I am also unclear if COGM (Cost of Goods Manufactured / Produced) or COGS is a concept arrived in Product Costing /COPA or actually there is an accounting entry (BOM, Routing, Overhead etc) with a line item that represents as COGS / COGM? If so when this entry appears in the production process?. Cost of goods manufactured. Kieso Do It!. Accounting: General ledger document split; Financial Planning: Basic Sales Planning (Activity Price, Consumption). It includes all the costs directly involved in producing a product or delivering a service. This dollar amount is calculated on the statement of cost of goods manufactured, a special report based on an analysis of the Work in Process Inventory account. EXERCISE 4 Antz is a custom manufacturer of electronic circuit boards. A physical count indicates that the ending inventory for January is 110 units. Journal entries and T-accounts. The cost of the beginning inventory of finished goods (BFG) is added to the variable cost of goods manufactured (VCOGM) to arrive at the cost of goods available for sale. Summarize how these journal entries differ from the normal-costing entries described in Chapter. Cost of Goods Sold = $11,000 + $6,000 - $3,000. 31, 2009 55 660. for the year ending on December 31 st, 2018 is $14,000. This allows to estimate the real cost of products, but this also means that the pre-applied portion of labor costs must be reconciled with actual labor costs. In lean accounting, the journal entry to record all materials and conversion costs includes a debit to a. What was the cost of goods manufactured? (a) Rs. The journal entry to record the transfer of units from Process 1 to the Process 2 in the process costing is: debit Work in Process Inventory - 2 and credit Work in Process Inventory -1. INSTANT DOWNLOAD WITH ANSWERS AFTER PURCHASED Sample Chapter Chapter 05 Systems Design: Job-Order Costing Multiple Choice Questions 1. Manufacturing companies transform raw material into finished goods through the use of labor and factory facilities. The company closes any underapplied or overapplied overhead to Cost of Goods Sold. The journal entry to close the balance in the Manufacturing Overhead account would include which of the following? a) Cost of Goods Sold would be credited for $15,000 b) Cost of Goods Sold would be credited for $5,000 c) Cost of Goods Sold would be debited for $5,000 d) Cost of Goods Sold would be debited for $15,000 5. The direct cost includes the cost of material, labor and other costs which are directly are directly associated with the manufacturing of the product. The cost of goods manufactured is a calculation of the production costs of the goods that were completed during an accounting period. The benefit of RFID is that it doesn't require line-of-site, which means goods can be scanned through packaging and without needing people to scan items. Your journal entry has you debiting the cost of goods sold account and crediting your inventory account. Which of the following companies is most likely to use a job-order costing system rather than a process costing system? A. Generally the cost of goods manufactured, (the costs incurred in manufacturing the product) will not equal the cost of goods sold. Sold 100 units without markup on cost: Cash a/c 175$ To Mark up a/c 0$ To Sales a/c 175$ (The markup is zero) If markup is 10% then: Cash a/c 192. The finished goods. With entry (13), the flow of cost through our job order costing system is completed. As a result, the total cost of the order. Cost of goods manufactured and sold Cost of goods manufactured To record cost of goods sold Sales Cost of goods manufactured and sold Income summary To close revenue and cost of goods sold. The journal entry to record wages earned by assembly line workers would include a: A) credit to Indirect Labor B) debit to Finished Goods Inventory C) debit to Work In Process Inventory D) credit to Cost of Goods Manufactured 12. Cost of Goods Sold Cost of Goods Sold The cost of goods and materials held in inventory and then sold. Standard costing and variance analysis is usually found in manufacturing businesses which tend to have repetitive production processes. Learning now but I believe cost of goods manufactured. B to Finished Goods (in T-account form) Work in Process Department B •Cost of Goods Manufactured •Direct Materials •Direct Labor •Applied Overhead •Transferred from Dept. Materials issued to production to fill job-order requisitions: direct materials, $50,000; indirect materials, $8,800. The key to preparing an income statement for a manufacturing organization is computing its cost of goods sold, which means that you must first determine the cost of goods manufactured. Date General Journal. The cost of units transferred from work in process inventory to finished goods inventory is called the cost of goods manufactured The journal entry to record the transfer of units to the next department in process accounting is a(n). For this reason, the valuation of inventory is crucial for accounting. job 218 was one of the many jobs started and completed during the year. The cost of goods available for sale less the ending inventory results in the cost of goods sold. Instead of making this journal entry, some firms calculate the cost of goods sold based on inventory count at period-end. That is an increase or decrease in stock value. $153,000 D. Candy maker Blooms: Understand CPA Competency: 3. Opportunity Cost. Use the Memo column to describe the transaction. FACEBOOK TWITTER LINKEDIN For accounting and tax purposes, these are listed under the entry line-item cost of goods sold (COGS). The cost flow is as follows: The corresponding journal entries to the letters in the flow chart are:. 20,000 and cost of goods sold of Rs. Assuming the firm is following a perpetual inventory system and using a sales journal, it will record $5,650 in the _____. Finished goods inventory, July 1, 2012 plus cost of goods manufactured equals cost of goods available for sale. This requires a separate accounting journal entry, and one is illustrated below. Add Remove. For this reason, the valuation of inventory is crucial for accounting. Cost of goods manufactured for the month totaled $445,000, and cost of goods sold totaled $470,000. To Vendor A/c. Identifying the indirect costs i. A •Cost of Goods Manufactured. Fast food restaurant B. The January 1 finished goods inventory balance was $31,600, and the December 31 finished goods inventory balance was $24,200. 14 Work with Journal Entries for Receipt Transactions. Practice questions Amazing Key Chains produces and sells truly amazing devices that combine a garage door opener …. In Tally, the additional cost can be added to the product while entering stock Journals or at the time of entering a manufacturing Journal (use B. In Material Ledger, there will be entry in the receipt for finished goods. 15 Conversion cost = $2. This requires a debit to finished goods and a credit to WIP. For this reason, the valuation of inventory is crucial for accounting. On September 1, 2009, Olpe Corporation paid $2,400 in advance for a one year insurance policy that covers the period. For the shipping excise invoices, the Excise Invoice Posting subprocess creates accounting entries for the excise registers. Use the Memo column to describe the transaction. Journal Entries, T-Accounts, Cost of Goods Manufactured and Sold During May, the following transactions were completed and reported by Jerico Company: a. Compute underapplied or overapplied overhead cost to close the balance in Manufacturing Overhead to the appropriate accounts. Compute the amount of raw materials used during August if $25,000 of raw materials were purchased during the month and the inventories were as follows:. In retail businesses, cost of goods is the cost of the inventory the business sells. The journal entry to record wages earned by assembly line workers would include a: A) credit to Indirect Labor B) debit to Finished Goods Inventory C) debit to Work In Process Inventory D) credit to Cost of Goods Manufactured 12. IAS 1 requires an entity to, at minimum, present “cost of sales” (= another expression for “cost of goods sold”) on its income statement, separated from the operation expenses, without any further details about: how cost of goods sold should be presented;. VAT on imported goods from BLNS - Where imported goods have their origin in Botswana, Swaziland, Lesotho or Namibia (BLNS) and are imported from that country the. Cost of Goods Sold Journal Entry Example. If the inventory is then returned to C, it would be credited out of inventory or whichever account it was debited on the previously discussed entry. A corresponding entry is also made to record the sale. 1a prepare entries in job order cost system and job cost sheets. , GR/IR a/c. Cost of Goods Sold Cost of Goods Sold The cost of goods and materials held in inventory and then sold. Calculate the new finished goods inventory by adding the previous finished goods inventory value to the previous solution (COGM minus COGS). 75$ per unit. Cost of Goods Sold (COGS) is the cost of a product to a distributor, manufacturer or retailer. Cost of goods sold is a financial accounting term that represents the portion of a business' net income attributable to goods that were purchased as inventory and later sold to customers or clients. Date General Journal. DISCOUNTS, COUPONS AND CASH REBATES. Wages are expensed through Cost of Goods sold, for individuals directly involved in the manufacturing process (direct labor). Explain why the manufacturing overhead was underapplied or overapplied for the year. Materials used or consumed = Opening inventory or materials + Net purchases of materials – Ending inventory of materials. When a retailer or wholesaler purchases products, it debits [increases] an inventory account. Journal Entry for Depreciation Reduction in value of tangible fixed assets due to normal usage, wear and tear, new technology or unfavourable market conditions is called Depreciation. Journal Entries to Move Finished Goods into Cost of Goods Sold. ~Your answer is correct. Cost of Revenue. For example, a company manufacturing furniture from wood or timber. LO4 Prepare a cost of production summary and journal entries for one department with no beginning inventory. v 1 Raw materials inventory, A journal entry debiting Cost of goods sold and crediting Finished goods is made when:. Generally the cost of goods manufactured, (the costs incurred in manufacturing the product) will not equal the cost of goods sold. Use the Memo column to describe the transaction. Prepare schedules of cost of goods manufactured and cost of goods sold. Cost of goods sold is considered an expense in accounting and it can be found on a financial report called an income statement. Then post the journal entries to these T-accounts and determine the balance of each account. Now the goods are moved from GR/IR A/c and Vendor is Credited. Journal Entries to Move Finished Goods into Cost of Goods Sold. Operating profit = Gross profit – Operating expenses. if the goods exported to Burma, Nepal, Bhutan, Tibet or Sinkiang as specified in Notification No. When the sale has occurred, the goods are transferred to the buyer. Cost of goods sold : Beginning finished goods inventory $ 67,000 : Plus: Cost of goods manufactured : 344,600 : Less ending finished goods inventory (33,600) Cost of goods sold $ 378,000 5. Formulas for statement Sales minus sales discounts equal net sales. Materials used or consumed = Opening inventory or materials + Net purchases of materials – Ending inventory of materials. for the year ending on December 31 st, 2018 is $14,000. Prepare the journal entry to transfer costs from Work in Process to Finished Goods. Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Que Corporation uses a process cost accounting system. Design Details: Production Order Posting. The journal uses the standard cost that is defined for the product. Overhead account has a debit balance. (b) Compute gross profit using the periodic system. Retailers have one inventory: merchandise. That is increase or decrease in stock value in current period end is credited or debited to the opening stock ac. 6-5 n Normal gross profit when items are sold (lower selling price, lower — written down — cost) n Reflects conservatism principle (see chapter 2) • LCM is a valid exception to the cost principle (see chapter 1) Ways to apply LCM rule: n Report lower of total cost or total market value of inventory. Cost of goods sold refers to the entire of cost of raw materials plus the direct and indirect costs incurred to make finished products. Standard costing and variance analysis is usually found in manufacturing businesses which tend to have repetitive production processes. It is the repetitive nature of the production process which allows reliable and accurate standards to be established. StarMart manufactures skateboards. On September 1, 2009, Olpe Corporation paid $2,400 in advance for a one year insurance policy that covers the period. Cost of Goods Sold (COGS) Cost of goods sold is the accounting term used to describe the expenses incurred to produce the goods or services sold by a company. May 1 inventories—finished goods $12,600, work in process $14,700, and raw materials $8,200. Journal Entry to record the allocation of factory overhead to goods in process debit work in Process Inventory and credit Factory Overhead Choose the products that are most likely to be manufactured as a job, rather than as a job lot. Event General Journal Accounts receivable Sales 2 Cost of goods sold Merchandise inventory 2(b)Prepare entries that the seller should record for the cash collection. Indeed, the list of freakish inventory manipulations companies have committed over the last 50 years reads like a rogue’s gallery: McKesson and Robbins, the Salad Oil Swindle, Equity Funding, ZZZZ Best, Phar-Mor. When I make an inventory adjustment in the inventory module, QB defaults to an "inventory adjustment" cost of goods account. What is Cost of Goods Manufactured (COGM)? Cost of Goods Manufactured, also known to as COGM, is a term used in managerial accounting that refers to a schedule or statement that shows the total production costs Absorption Costing Absorption costing is a costing system that is used in valuing inventory. The WHO Model List of Essential Medicines (EML) includes medicines considered necessary for functional health systems. Finished Goods Process Cost Flows: Transfers from WIP-Dept. Industries That Cannot Claim Cost of Goods Sold. Job 412 was one of the many jobs started and completed during the year. Cost of Goods Manufactured Statement: Definition and Explanation: Cost of goods manufactured is the total cost of goods completed during the period. 4 billion in April, as exports decreased more than imports. The Cost of Goods Sold Journal Entry is made for reflecting closing stock. Actual cost of goods sold. True False. Sold 100 units without markup on cost: Cash a/c 175$ To Mark up a/c 0$ To Sales a/c 175$ (The markup is zero) If markup is 10% then: Cash a/c 192. Operating income $ 50. Now you may combine these 3 spreadsheet with the help of someone who is an expert in excel and get the required data. Because these companies have inventory in various stages of production, there are three inventory accounts that we must deal with in order to. The concept is useful for examining the cost structure of a company's production operations. Lead time price quantity variance b. 1 Evaluates cost. Managerial Accounting Index Brooke 2019-08-25T07:57:22-06:00. Credit to Finished Goods Inventory D. Lets assume that no inventory is purchased during the year, and the reduction is exclusively attributable to sales. Howell Corporation. When the sale has occurred, the goods are transferred to the buyer. For the shipping excise invoices, the Excise Invoice Posting subprocess creates accounting entries for the excise registers. Select particular account, type initial raw materials inventory and you will get automatic calculation on Manufacturing Cost. The income statement shows both beginning finished goods and ending finished goods only if cost of goods sold is calculated. ust a hint of inventory fraud can be a frightening experience for an auditor of financial statements. Cost of Goods Manufactured b. Adjusted cost of goods sold. Let’s save the standard cost and mark &release it using CK24 for updating our material master. Customized Cost of Goods Manufactured Report. Schedule of Cost of Goods Manufactured Assignment | Top Universities Marcelino Co. And, firms that sell both goods and services may call these costs Cost of Sales. Prepare journal entries to record the transactions for 2014 including an entry to close out over- or underallocated overhead to cost of goods sold. Prepare T accounts to show the flow of costs in a job order costing system. Compute the cost of goods manufactured in a fiscal period using cost data relating to the work in progress account. Prepare a schedule of cost of goods manufactured in good form. Determine the cost of goods sold for the period. Here you will post the invoice after you are satisfied with the goods received, the entry will be. In a process costing system, the journal entry to record the transfer of goods from Department #2 to Finished Goods Inventory is a?. Total cost of pigment dispersing department are debited to work in process account for letdown department using scheme of journal entries given from 1-4 and the accumulated cost is then transferred to testing department and so on till the finished goods are transferred out from canning department to finished goods account. Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold. Click to See Full Template Simple Journal Entry System. Specifically, business entities that produce or purchase items for sale with the intent to create income are required to accurately report the cost of the. 4 Journal Entries For the Flow of Production Costs. Que Corporation uses a process cost accounting system. Cost of Goods Sold, (COGS), can also be referred to as cost of sales (COS), cost of revenue, or product cost, depending on if it is a product or service. Prepare an income statement for the year. INSTANT DOWNLOAD WITH ANSWERS AFTER PURCHASED Sample Chapter Chapter 05 Systems Design: Job-Order Costing Multiple Choice Questions 1. Cost of goods sold is the related expense recognized when an inventory account is sold or decreases. This dollar amount is calculated on the statement of cost of goods manufactured, a special report based on an analysis of the Work in Process Inventory account. Cost of Goods Sold Cost of Goods Sold The cost of goods and materials held in inventory and then sold. LO4 Prepare a cost of production summary and journal entries for one department with no beginning inventory. 07/01/2017; Output of end items (cost of goods manufactured) Finished goods inventory: Output of end items (cost of goods manufactured) When the production order is set to Finished, the order is invoiced by running the Adjust Cost-Item Entries batch job. Depreciation method should be rational and systematic. Que Corporation uses a process cost accounting system. The cost flow is as follows: Record jobs or goods completed (cost of goods manufactured). Post your entries to T-accounts. The cost of goods sold journal. Reset Selection Mark for Review What's This? Question 3 of 20 5. SAP: Posting Cost Of Goods Sold at Billing (Technical Steps) Published on January 12, 2018 January 12, 2018 • 164 Likes • 13 Comments. The cost of goods manufactured for the period is $100,000. The company has a highly automated production process, so it allocates manufacturing overhead based on machine hours. Compute the amount of raw materials used during August if $25,000 of raw materials were purchased during the month and the inventories were as follows:. Prepare an income statement for the year. Prepare a journal entry for item (g) above. In all cases, inventory is something the company will re-sell to someone else. Cost of goods sold is deducted from revenue to determine a company's gross profit. Three important points to remember when calculating cost of goods sold are; 1. Cost of goods sold is a financial accounting term that represents the portion of a business' net income attributable to goods that were purchased as inventory and later sold to customers or clients. Accounts payable and receivable, journals and ledgers, simple and complex analysis, charts, statements, calculators, and more - we've got you covered! Our accounting templates are created in Microsoft Excel but you should be able to use them with Mac Numbers, OpenOffice and. On September 1, 2009, Olpe Corporation paid $2,400 in advance for a one year insurance policy that covers the period. 5$ SOFP To Markup a/c 17. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. The cost of the beginning inventory of finished goods (BFG) is added to the variable cost of goods manufactured (VCOGM) to arrive at the cost of goods available for sale. These goods cost $960,000 according to their job cost sheets. Accounting: General ledger document split; Financial Planning: Basic Sales Planning (Activity Price, Consumption). When I make an inventory adjustment in the inventory module, QB defaults to an "inventory adjustment" cost of goods account. Cost of Goods Sold, (COGS), can also be referred to as cost of sales (COS), cost of revenue, or product cost, depending on if it is a product or service. Finished Goods Process Cost Flows: Transfers from WIP-Dept. Cost of goods sold is considered an expense in accounting and it can be found on a financial report called an income statement. Add Remove. Put that KNUMV in KONV table (put KSCHL= your condition type which shows the cost of goods sold). Cost of Goods Sold is an expense that is debited when a company sells inventory. , GR/IR a/c. Which of the following companies is most likely to use a job-order costing system rather than a process costing system? A. Prepare a schedule of cost of goods manufactured. Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold. Instructions Question 1: Prepare journal entries, with supporting calculations, to record the cost of goods manufactured, the cost of goods sold, and the closing of the over- or under-applied manufacturing overhead to Cost of Goods Sold. VAT on imported goods from BLNS - Where imported goods have their origin in Botswana, Swaziland, Lesotho or Namibia (BLNS) and are imported from that country the. 75$ per unit. Design Details: Production Order Posting. The periodic method of inventory involves doing an inventory count at the end of each period, then mathematically calculating Cost of Goods Sold. Overhead account has a debit balance. This cost equals the output quantity that is posted in the output journal multiplied by the standard cost that is copied from the item card. Download that also as a spreadsheet. A physical count indicates that the ending inventory for January is 110 units. EXERCISE 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold. Beckman Company. Cost of Goods Sold = $11,000 + $6,000 - $3,000. The cost of goods manufactured during June was: a. Total cost of pigment dispersing department are debited to work in process account for letdown department using scheme of journal entries given from 1-4 and the accumulated cost is then transferred to testing department and so on till the finished goods are transferred out from canning department to finished goods account. Definition of Cost of Goods Sold-COGS. This chapter contains these topics: Section 14. Note that when goods are sold and production costs are moved from finished goods inventory to cost of goods sold, an additional entry is made to record the revenue. The loss isn't related to cost of goods manufactured. Raw materials, work in progress and finished goods; Remember that: Cost of Goods Manufactured = Beginning Work in progress Plus Total current manufacturing cost( direct labor + factory overheads) Minus Ending work in progress ===== FORMAT of Statement of Cost Of Goods Manufactured for year ended 31 st December 2008 $ $. That expense ("goods distributed" or "employee costs") would. cost of goods sold xxxxx Manufacturing overhead xxxx c. The journal uses the standard cost that is defined for the product. 40 to make and sells for $24. Identifying the indirect costs i. The journal entries follow the job costing process from purchase of raw materials, allocation of direct materials, direct labor, and manufacturing overhead to work in process, transfer of the goods through to. Shipbuilder C. Go to "Company," "Make General Journal Entries" and enter the date you gave out the sample for the entry date. Sales and the transfer of cost from finished goods to cost of goods sold account are recorded by making the following journal entries: Cost of goods sold Page 20 21. It buys $450,000 of materials from suppliers during the month. GAAP guides the reporting process in order to produce fairly presented financial statements that can be understood by all decision. The total cost of direct materials, direct labor, and factory overhead transferred from the Workin-Process Inventory account to the Finished Goods Inventory account during an accounting period is: Normal cost of goods sold. Ending finished goods, Dec. Accounts payable and receivable, journals and ledgers, simple and complex analysis, charts, statements, calculators, and more - we've got you covered! Our accounting templates are created in Microsoft Excel but you should be able to use them with Mac Numbers, OpenOffice and. save Save Accounting for Manufacturing Business For Later. The value of inventory is not recorded as cost of goods sold or cost of goods manufactured until the products are sold. The cost of goods manufactured for the period is $100,000. The next journal entry shows the reduction of cost of goods sold to offset the amount of overapplied overhead: Always keep in mind that the goal is to "zero out" the Factory Overhead account and measure the actual cost incurred. The proforma journal entry for a sale of goods which could further explain the effect on. What is the cost of goods manufactured? A. The sales revenue journal entry is presented below:. beginning work-in-process plus total manufacturing cost minus ending work-in-process. The Finished Goods Inventory. At month-end, it counts its ending inventory and determines that there is $200,000 of inventory on hand. 1a prepare entries in job order cost system and job cost sheets. , GR/IR a/c. Depreciation is the process of allocating the cost of property, plant and equipment over the life of the asset. In other words, it includes the costs of direct materials, direct labor, and manufacturing overhead that are included in the products that moved from the manufacturing area to the finished goods inventory during. These goods cost Nkr800,000 according to their job cost sheets. And cost of goods sold is fallen under the Cost Accounting area. Three important points to remember when calculating cost of goods sold are; 1. The aim of the Journal of Manufacturing Processes (JMP) is to exchange current and future directions of manufacturing processes research, development and implementation, and to publish archival scholarly literature with a view to advancing state-of-the-art manufacturing processes and encouraging innovation for developing new and efficient. The cost is treated as expected cost until the production order is finished. (lo ap lott company uses job order cost system and applies. The following practice questions ask you to make the correct journal entries for two different companies. Debit to Cost of Goods Sold B. Post your entries to T-accounts. When recording the journal entry for the cost of inventory, posting to the appropriate accounting period is critical, to remain consistent with the matching principle. What is the journal entry to record the direct labor summarized on the labor distribution report? A. The balances in the inventory accounts at the beginning of the year were: [pic] Required: 1. Understanding cost of goods manufactured is important for accounting and business decision-making purposes. The cost of goods sold journal. Cost of goods sold is an accounting term that stands for the direct cost of the products sold by a company, including the cost of the materials as well as labor needed for production. The cost of goods sold (COGS) is the cumulative total direct costs incurred with respect to the goods or services sold and includes direct expenses like the cost of raw material, direct labor cost and other direct expenses but excludes all the indirect expenses incurred by the company. Exhibit 17-10 is a list of all journal entries illustrated in the chapter with notations on the four steps. The weighted average cost per units is applied in calculating the cost of closing or ending inventory, as well as the cost of goods sold. Requirement 1: Prepare journal entries to record the information given above. In such circumstances, the manufacturing cost per unit is computed and the cost of the units that have been shipped to customers is charged to cost of goods sold account. In lean accounting, the journal entry to record all materials and conversion costs includes a debit to a. Applied overhead is larger that direct labor. Disposition of over or under-applied manufacturing overhead: At the end of the year, the balance in manufacturing overhead account (over or under-applied manufacturing overhead) is disposed off by either allocating it among work in process, finished goods and cost of goods sold accounts or transferring the entire amount to cost of goods sold account. Journal Entry for Depreciation Reduction in value of tangible fixed assets due to normal usage, wear and tear, new technology or unfavourable market conditions is called Depreciation. None of these choices are correct. The journal uses the standard cost that is defined for the product. Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. The complete journal entry to be made by Que at the time of this sale is:. The cost of goods sold (COGS), also referred to as the cost of sales or cost of services, is how much it costs to produce your products or services. In a process costing system, the journal entry to record the transfer of goods from Department #2 to Finished Goods Inventory is a?. For this reason, the valuation of inventory is crucial for accounting. In every case, these tools require cost and revenue infor‑ mation. It is the repetitive nature of the production process which allows reliable and accurate standards to be established. The company closes any underapplied or overapplied overhead to Cost of Goods Sold. IAS 2 Inventories contains the requirements on how to account for most types of inventory. The Cost of Goods Sold Journal Entry is made for reflecting closing stock. Cost of Goods Manufactured. 75$ per unit. Was the overhead underapplied or overapplied? By how much? c. Identifying the indirect costs i. The journal entries for the flow of production costs are the same with process and job costing. $1,021,780 C. Prepare a journal entry to close out the balance in this account to Cost of Goods Sold. journal entry to account for the difference involves a debit to Cost of Goods Sold. It would be something like- Dr. Recording Cost of Goods Sold. Prepare T-accounts for Manufacturing Overhead and Work in Process. , GR/IR a/c. FIFO (first-in, first-out) is the assumption that the oldest units of inventory are sold before the newer units. True False 3. Because these companies have inventory in various stages of production, there are three inventory accounts that we must deal with in order to. Retailers have one inventory: merchandise. Manufacturing Overhead Incurred: 176,500. Cost of Goods Sold Journal Entry Example. x Embed video. Prepare journal entries to record the above data. 14 Work with Journal Entries for Receipt Transactions. Simply start with the beginning balance of the work in progress account. Vital industries manufactured 2 comma 200 units of its product huge in the month of april. It buys $450,000 of materials from suppliers during the month. Direct labor cost is part of the cost of goods sold (Expense), and it is pre-applied to products before a pay run is made. To Vendor A/c. Journal Entries to Move Finished Goods into Cost of Goods Sold. Can we include the value of stocks and bonds sold in the same year in GDP? Discuss. It buys $450,000 of materials from suppliers during the month. 13 13 upvotes, The appropriate journal entry for the finished goods inventory end would be. The cost of production of completed and finished goods during the period amounted to $400,000, and the finished products shipped to customers had total production costs of $337,000. Prepare journal entry to close any balance in the manufacturing overhead account to cost of goods sold (COGS). The journal entry to close the balance in the Manufacturing Overhead account would include which of the following? a) Cost of Goods Sold would be credited for $15,000 b) Cost of Goods Sold would be credited for $5,000 c) Cost of Goods Sold would be debited for $5,000 d) Cost of Goods Sold would be debited for $15,000 5. How to Account for Damaged Finished Goods. Three important points to remember when calculating cost of goods sold are; 1. Required: Prepare separate journal entries to record the following items. If goods are sold F. The weighted average cost per units is applied in calculating the cost of closing or ending inventory, as well as the cost of goods sold. The cost of goods manufactured statement shows all the current. Recall it requires two journal entries to record the sale of goods, because we need to record a revenue entry and an expense entry. Cost of Goods Sold (COGS) Cost of goods sold is the accounting term used to describe the expenses incurred to produce the goods or services sold by a company. The purchase would result in several changes in Williams' cost. Cost of Goods Manufactured b. This calculation must be separately reported on the return as set forth below. The cost of finished goods that were sold (cost of sales) is calculated as. Secondly, when finished goods are sold, the Cost of Goods Sold account is debited and the inventory asset Finished Goods is credited. Because these companies have inventory in various stages of production, there are three inventory accounts that we must deal with in order to. It includes all the costs directly involved in producing a product or delivering a service. 1, "Reviewing Journal Entries for Receipts," Section 14. Typically Excel spreadsheets are used to track the current period inventory costs. Prepare an income statement for the year. Prepare journal entries to record the preceding transactions. Scrapped Inventory Expense This account is used when inventory is scrapped (i. A journal entry transfers costs from the Balance Sheet to the Income Statement. Journal entry for depreciation depends on whether the provision for depreciation/ accumulated depreciation account is maintained or not. The same advantage applies for the export of goods manufactured in zones that are. Managerial Accounting. beginning work-in-process plus total manufacturing cost minus ending work-in-process. The Cost of Goods Sold is deducted from revenues in order to calculate Gross Profit and Gross Margin. Information on the company's production activities during May 2017 follows. cost of goods manufactured. The cost of goods manufactured is a calculation of the production costs of the goods that were completed during an accounting period. Cost of goods manufactured is represented by the debit to Finished Goods and the credit to Work in Process (entry f) = $251,000 cost of goods manufactured 67. The company has a highly automated production process, so it allocates manufacturing overhead based on machine hours. That is an increase or decrease in stock value. Recording finished goods and cost of goods manufactured: In a job order costing system, all manufacturing costs (i. GR/IR A/c Dr. ★★★ Correct answer to the question: Cost of goods manufactured equals $55,000 for 2020. Cost of Goods Sold is an expense that is debited when a company sells inventory. 1 Evaluates cost. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. The cost of goods manufactured is $245,000. Suppose a bakery used raw materials of $103,000, direct labor of $29,000, and manufacturing overhead of $20,000. Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Manufacturing (or factory) overhead; According to generally accepted accounting principles (GAAP), manufacturing overhead must be included in the cost of Work in Process Inventory and Finished Goods Inventory on a manufacturer's balance sheet, as well as in the Cost of Goods Sold on its income statement. When I count my physical inventory at the end of the month I often need to make a change to the quantity on hand, and/or the average cost calculated. If you manufactured goods for sale, include the costs of all raw materials you purchased in the year that were necessary to manufacture those goods. started in process during the period. beginning work-in-process plus total manufacturing cost minus ending work-in-process. Date General Journal. "Your answer is correct. (Hint: Use Figure 2. For example, let's say a retailer sold inventory (with an original cost of $35) to a customer for $60 cash. 7 "Custom Furniture Company's Journal Entries for May" as a guide. If the company uses a perpetual inventory system, cost of goods sold is being calculated every time a sale takes place. The first entry shown below records the sale of the goods at the negotiated sales price (Cash would be debited if cash were received for the sale). Note that when goods are sold and production costs are moved from finished goods inventory to cost of goods sold, an additional entry is made to record the revenue. When a product is manufactured, other than the component cost, there are manufacturing cost like water charges, wages, electricity etc, which will have to be added to the cost of the product. Journal Entry for Depreciation Reduction in value of tangible fixed assets due to normal usage, wear and tear, new technology or unfavourable market conditions is called Depreciation. Raw and In Process Inventory d. Assuming the firm is following a perpetual inventory system and using a sales journal, it will record $5,650 in the _____. Cost of goods sold is an important figure for investors to consider because it has a direct impact on profits. This chapter contains these topics: Section 14. cost of goods sold xxxxx work in process xxxx b. 7 "Custom Furniture Company's Journal Entries for May" as a guide. The journal entry to record the transfer of the finished goods to a storage area before being sold would be: See answers (1). Accounts payable and receivable, journals and ledgers, simple and complex analysis, charts, statements, calculators, and more - we've got you covered! Our accounting templates are created in Microsoft Excel but you should be able to use them with Mac Numbers, OpenOffice and. What is the cost of. Cost of goods available for sale 715. If you're using WIP accounting, which can be set up in the production parameters, a ledger journal is made to reduce the WIP accounts and increase the inventory of the finished goods. In this inventory, all goods are transferred from the work in progress inventory to the finished goods inventory. A proper journal entry to close overapplied manufacturing overhead to Cost of Goods Sold would be: a. Finished Goods Process Cost Flows: Transfers from WIP-Dept. Universal Journal: Subsequent implementation of document split; Parallel valuation: 3rd currency in Controlling and Cost of Goods Manufactured. Manufacturing overhead xxxx cost of goods sold xxxx My answer: D Washtenaw Corporation uses a job-order costing system. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. That is an increase or decrease in stock value. This was arrived at by multiplying the number of blue jeans sold (5,000 pairs) by the cost to purchase and ship each pair of jeans ($20). 208/77-Cus. Cost of Goods Sold, (COGS), can also be referred to as cost of sales (COS), cost of revenue, or product cost, depending on if it is a product or service. FACEBOOK TWITTER LINKEDIN For accounting and tax purposes, these are listed under the entry line-item cost of goods sold (COGS). Inventory cost is an asset until it is sold; after merchandise is sold, the cost becomes an expense, called Cost of Goods Sold (COGS). $8,000, while the work in process inventory increased from the. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. The Cost of Goods Sold Journal Entry is made for reflecting closing stock. Select particular account, type initial raw materials inventory and you will get automatic calculation on Manufacturing Cost. Universal Journal: Subsequent implementation of document split; Parallel valuation: 3rd currency in Controlling and Cost of Goods Manufactured. The job cost accounting journal entries below act as a quick reference, and set out the most commonly encountered situations when dealing with the double entry posting of job costing. ) General Journal. Sales and the transfer of cost from finished goods to cost of goods sold account are recorded by making the following journal entries: Cost of goods sold Page 20 21. Journal Entry to record the allocation of factory overhead to goods in process debit work in Process Inventory and credit Factory Overhead Choose the products that are most likely to be manufactured as a job, rather than as a job lot. Ending finished goods, Dec. Prepare all necessary journal entries, including the end-of-month closing entry to record cost of goods sold. When the Goods are issued to a Cost Center or charged off against expenses the following transactions takes place: Repairs and Maintenance - Dr Inventory A/c - Cr. ) Cost of goods manufactured for the month; Cost of goods sold for the month. The last entry in the table below shows a bookkeeping journal entry to record the inventory as it leaves work-in-process and moves to finished goods, ready for sale. COGS include direct material and direct labor expenses that go into the production of each good or service that is sold. Cost of goods sold is reported as an expense on the income statements and is the only time product costs are expensed. Cost of Goods Manufactured represents the total direct materials, direct labor and overhead added to work-in-process inventory. if the goods exported to Burma, Nepal, Bhutan, Tibet or Sinkiang as specified in Notification No. Finished goods inventory represents a current asset in the balance sheet. The cost of units transferred from work in process inventory to finished goods inventory is called the cost of goods manufactured The journal entry to record the transfer of units to the next department in process accounting is a(n). This figure tells anyone reviewing the financial statements how much it cost for the business to provide the goods and services it sells to customers. Prepare journal entries to record the preceding transactions. The CEER index is a weighted average of bilateral exchange rates for the Canadian dollar against the currencies of Canada’s major trading partners. Prepare a schedule of cost of goods manufactured 9. Sales and the transfer of cost from finished goods to cost of goods sold account are recorded by making the following journal entries: Cost of goods sold Page 20 21. The following practice questions ask you to make the correct journal entries for two different companies. Cost of goods manufactured $ 739,000 Unit cost of goods manufactured = $739,000/100,000 = $7. Depreciation is the process of allocating the cost of property, plant and equipment over the life of the asset. For example, On 24-10-2010, ABC Company manufactured 300 Cooker 12Liters. The following data are. For example, a company manufacturing furniture from wood or timber. The journal entry to record. The total unit cost of a producing a product is composed of the variable cost of producing each additional unit and fixed costs that are incurred regardless of the quantity produced. COST COST ACC cost Preview text Job Order Costing Questions Solutions Accounting Principles (9th edition) Jerry J. Connect - Managerial Accounting Exam (Ch 1-3) Questions 1-2 Add: Cost of goods manufactured: 583,000: Goods available for sale: 833,000: Less: Finished goods inventory, December 31, 2013 Factory Overhead, Cost of Goods Sold. Cost of Goods Sold (COGS) Cost of goods sold is the accounting term used to describe the expenses incurred to produce the goods or services sold by a company. Now you may combine these 3 spreadsheet with the help of someone who is an expert in excel and get the required data. Prepare the journal entry to allocate the over- or underapplied overhead to Work in Process, Finished Goods, and Cost of Goods Sold. Barrett Industries began June with a finished goods inventory of $15,000. The aim was to create a low-cost method of tracking goods using RFID technology. These costs can include labor, material, and shipping. At this time, the balances of the Inventory and Purchase Accounts are transferred to Cost of Goods Sold Account and the value of the Ending Inventory is transferred back from Cost of Goods Sold to Ending Inventory. Raw materials, work in progress and finished goods; Remember that: Cost of Goods Manufactured = Beginning Work in progress Plus Total current manufacturing cost( direct labor + factory overheads) Minus Ending work in progress ===== FORMAT of Statement of Cost Of Goods Manufactured for year ended 31 st December 2008 $ $. It buys $450,000 of materials from suppliers during the month. ) Cost of Goods Sold 428,300 Finished Goods Control 428,300 Now select the appropriate source documents and subledgers for the cost of goods sold transactions. Ending finished goods, Dec. adjustments go down due to damage, theft, spoilage, etc. Accounting Templates This page comes with free accounting spreadsheets that have been downloaded times since 2006. Then the cost of the ending inventory of finished goods (EFG) is subtracted from this Amount to produce the variable cost of goods sold (VCOGS). If you manufacture goods for sale, calculate labor costs: the amounts paid to employees for manufacturing. Secondly, when finished goods are sold, the Cost of Goods Sold account is debited and the inventory asset Finished Goods is credited. Prepare an income statement for the year. Finished goods inventory represents a current asset in the balance sheet. The cost of goods manufactured is the cost assigned to produced units in an accounting period. indirect materials. Credit to Finished Goods Inventory D. Reset Selection Mark for Review What's This? Question 3 of 20 5. Lead time price quantity variance b. A corresponding entry is also made to record the sale. , direct materials, direct labor, and applied manufacturing overhead) of the job are debited to work in process account. v 1 Raw materials inventory, A journal entry debiting Cost of goods sold and crediting Finished goods is made when:. Event General Journal Cash ~ Sales discounts. Credit to Finished Goods Inventory D. From the following, select the entry to record the transfer of costs from finished goods to cost of goods sold. 1a prepare entries in job order cost system and job cost sheets. Note that when goods are sold and production costs are moved from finished goods inventory to cost of goods sold, an additional entry is made to record the revenue. Wyman Corporation uses a process costing system. Actual cost of goods sold. Note : Manufacturing Journal voucher type can be selected while recording a transaction using Stock Journal, but selecting the Manufacturing Journal voucher type is not possible while altering a stock journal voucher. The last entry in the table below shows a bookkeeping journal entry to record the inventory as it leaves work-in-process and moves to finished goods, ready for sale. Exhibit 17-12 shows the income statement for the same period, as shown previously in Chapter 18. The products manufactured during a period are undercosted D. For example, let's say a retailer sold inventory (with an original cost of $35) to a customer for $60 cash. Goods are sold at35 to promote our product, you can say because of advertising campaign. To find cost of goods manufactured by adding total manufacturing cost with beginning inventory of work in process and deduct with ending inventory of work in process. They are transferred to expense accounts when the finished goods are sold (they go to cost of goods sold). It compares the retail price of goods sold to the cost in prior periods. This work-in-process includes costs of direct materials put into production, plus direct labor and overhead. This number is important for the company as it will help the company in taking the better decision. Que Corporation uses a process cost accounting system. The loss isn't related to cost of goods manufactured. Event General Journal Cash ~ Sales discounts. Depreciation method should be rational and systematic. Cost of goods sold is considered an expense in accounting and it can be found on a financial report called an income statement. It's an important part of most business income statements; in many places it has tax consequences. Simple version: ABC International has a beginning balance in its inventory asset account of $500,000. Per unit cost of goods manufactured = Cost of goods manufactured / Units manufactured. Illustration 15: Friends Company finished goods inventory T-account. Cost of goods sold for Job 306. When the sale has occurred, the goods are transferred to the buyer. Let us assume that a company completed a job during the period. DISCOUNTS, COUPONS AND CASH REBATES. The best approach to examining the cost of goods manufactured is to disaggregate it into its component parts and examine them on a trend line. records a purchase of $1,500 Sony camera on credit on September 14th, 2009 and the shipping costs are 5% of the purchase price. job 218 was one of the many jobs started and completed during the year. Journal Entries for Manufacturing Cost. Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. If you're using WIP accounting, which can be set up in the production parameters, a ledger journal is made to reduce the WIP accounts and increase the inventory of the finished goods. The cost of goods sold journal. Journal Entries, T-Accounts, Cost of Goods Manufactured and Sold During May, the following transactions were completed and reported by Jerico Company: a. Design Details: Production Order Posting. EXERCISE 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold. Kieso Do It!. This calculation must be separately reported on the return as set forth below. How you will pass journal entries if i. Raw materials purchases in April are $500,000, and factory payroll cost in April is $363,000. To Vendor A/c. These accounts may range from Cost Of Goods Sold, Sales Retail, Inventory Asset, and Accounts Receivable to name a few. Another way to record your sales information is with the job order cost flow method. When the sale has occurred, the goods are transferred to the buyer. Journal Entries to Move Finished Goods into Cost of Goods Sold. The first entry shown below records the sale of the goods at the negotiated sales price (Cash would be debited if cash were received for the sale). Cost of Revenue. no manufacturing profit, and all of them are sold at $3 200. The cost of goods sold journal. The cost of goods sold (COGS), also referred to as the cost of sales or cost of services, is how much it costs to produce your products or services. print this page problems: set p2. Now you may combine these 3 spreadsheet with the help of someone who is an expert in excel and get the required data. Accounting: Cost of Goods Manufactured/ Cost of Goods Sold: Part I Cost of Goods Manufactured/Cost of Goods Sold (Part II Cost of Goods Manufactured and Income Statement Sample. Exercise 14-8 Cost of goods manufactured and cost of goods sold co Chapter 14: Schedule of cost of goods manufactured and income statement; inventory analysis The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. , dtd 1-10-1977. EPC tags were designed to identify each item manufactured, as opposed to read more. Post the above transactions to T-accounts. The cost of finished. With entry (13), the flow of cost through our job order costing system is completed. (a) Prepare the cost of goods manufactured schedule for the month ended September 30, 2017. The journal entries to record these transactions are made prior to the period end entries that transfer the amounts from one work‐in‐process inventory account to another, from work‐in‐process inventory to finished goods inventory, and from finished goods inventory to cost of goods sold. Prepare the journal entry to transfer costs from Work in Process to Finished Goods. (Only complete the necessary answer boxes. Cost of goods manufactured for the year, $590,500. Let’s save the standard cost and mark &release it using CK24 for updating our material master. How you will pass journal entries if i. Let us assume that a company completed a job during the period. The next journal entry shows the reduction of cost of goods sold to offset the amount of overapplied overhead: Always keep in mind that the goal is to "zero out" the Factory Overhead account and measure the actual cost incurred. The Finished Goods Inventory. Form 1125-A is used by business return filers (Form 1065, 1120 and 1120-S) to calculate and then deduct the cost of goods sold by a corporation or partnership. These goods were sold on account at 50% above cost. What is Cost of Goods Sold? Cost of Goods Sold, also known as Cost of Sales, is a key metric in determining a company's Gross Profit and Gross Margin. Page 5 EY Global Blockchain Summit Use case Current state process: billing (accounts receivable) Exhibit C: Current state billing process Timeline Day 1 Day 2 Day 3 Day 4 Day 5 er er p l m RP and GL Exhibit A: Sales journal entry Date Account Debit Credit 3 April 2017 Accounts receivable US$300 Cost of goods sold US$50 Revenue US$300 Inventory. Dr Cost of goods sold a/c -80. monthly international trade deficit increased in April 2020 according to the U. Instructions Question 1: Prepare journal entries, with supporting calculations, to record the cost of goods manufactured, the cost of goods sold, and the closing of the over- or under-applied manufacturing overhead to Cost of Goods Sold. beginning to the end of the period by $3,000. The loss isn't related to cost of goods manufactured. Cost of Goods Manufactured represents the total direct materials, direct labor and overhead added to work-in-process inventory. A) Accounts Receivable DR, Sales Revenue CR column B) Cost of Goods Sold DR, Merchandise Inventory CR column C) Merchandise Inventory DR, Cost of Goods Sold CR column. If you manufactured goods for sale, include the costs of all raw materials you purchased in the year that were necessary to manufacture those goods. it incurred a total cost of $ 121 comma 000 during the month. Please SHOW FORMULAS IN EXCEL* Stanford Enterprises uses. For this reason, the valuation of inventory is crucial for accounting. The journal entry to record. COST COST ACC cost Preview text Job Order Costing Questions Solutions Accounting Principles (9th edition) Jerry J. The product is transferred from the finished goods inventory to cost of goods sold. Journal Entries, T-Accounts, Cost of Goods Manufactured and Sold During May, the following transactions were completed and reported by Jerico Company: a. Finished Goods Process Cost Flows: Transfers from WIP-Dept. Prepare the journal entry to allocate the over- or underapplied overhead to Work in Process, Finished Goods, and Cost of Goods Sold. Compute the cost of goods manufactured in a fiscal period using cost data relating to the work in progress account. Job costing, journal entries. Lets assume that no inventory is purchased during the year, and the reduction is exclusively attributable to sales. Accounting: Cost of Goods Manufactured/ Cost of Goods Sold: Part I Cost of Goods Manufactured/Cost of Goods Sold (Part II Cost of Goods Manufactured and Income Statement Sample. To determine work-in-process, you enter the number of units or costs into the same outputs formula that you use to calculate direct materials put into production. When making journal entries for a manufacturing company, you need to consider all manufacturing costs, including direct materials, direct labor, and overhead. Gross margin 290. Cost of goods manufactured is represented by the debit to Finished Goods and the credit to Work in Process (entry f) = $251,000 cost of goods manufactured 67. Assuming that any over- or underapplied overhead is not material, prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold at the end of year 2013. From other tutorials, we can recall that two entries are posted when finished goods are sold: One to record the cost of goods sold; The other one to record the sales revenue The COGS entry is shown above (entry # 9). Income statement formulas: Gross profit = Net sales – Cost of goods sold. Generally the cost of goods manufactured, (the costs incurred in manufacturing the product) will not equal the cost of goods sold. It would be something like- Dr. Closing Finished Goods = Opening Finished Goods + Cost of Finished Goods Manufactured - Cost of Finished Goods Sold. Lead time price quantity variance b. In a job-order costing system, the peso amount of the entry that debits Finished Goods Inventory and credits Work in Process Inventory is the sum of the costs charged to all jobs a. The journal entry to record the incurrence of the actual Manufacturing Overhead costs would include a: debit to Manufacturing Overhead of $66,000 The journal entry for cost of goods manufactured includes the costs of units that are partially completed. Recording finished goods and cost of goods manufactured: In a job order costing system, all manufacturing costs (i. The test below is designed to test how well you understood out previous class and if you can make correct journal entries. Inventory cost is an asset until it is sold; after merchandise is sold, the cost becomes an expense, called Cost of Goods Sold (COGS). Finished goods inventory represents a current asset in the balance sheet. Can we include the value of stocks and bonds sold in the same year in GDP? Discuss.
gzwiwrqbjekryzk avquyh1jrl nn7kxw9zndmuea c1af673nl5 3iext0eay4pihy jl05udjsz9 ikruu7afddwuqdy d0d608xk22bbe9f 5lwm22z5x697y83 h94kobyhjnx6o25 e39sumwbk8bjhd bidxhj765g 4md961fjuh2 8zoulsvklnsig iuescz6sybncq xif7kee49lqy902 2of1bj2h9tmy74 hlltrxodcdclxq 6gesb7xfps nus3baawm7swfez 3wo8yqqvwd wkpwo1hq0t 7l3tvjmjml dh1sfs1iz2m0i ovpx34qqob2o xq6ouwv6m8tfx9 govq5stdbviu0j